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The End of Wall Street?

Wall Street is being humbled by the double whammy of technological progress and unkind market forces. Its super natural powers and over lordship are on the way out.
For two centuries and more, especially after the unification of Germany in 1871, Wall Street was the lodestar, besides being the hub, of the world capital market. With capitalisation dwarfing even US GDP it made and unmade business empires, fanned economic crises, promoted entrepreneurs and made private wealth the hallmark of economic growth and prosperity.
Now it has entered the Saturn period. Small markets, nick named dark pools, are taking away its business. It is about a decade since the erosion began. Technology is on the side of the new traders. Businesses involving huge chunk of shares are done in a fraction of a second across the world.
Wall Street is feeling the pinch. Call it the result of globalization. Its trading halls being closed and the transactions inked on its floor are falling. Reflecting its misfortune the Big Board, as Wall Street is known, has lost $470 million last year.
Nobody knows for sure how many trading systems are there or how they can be monitored. Each of the two of the top claims business to the tune of 10% of the Bog Board everyday.

 
 
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